Isa net sales fell 42% last year

Isas had a turbulent 2004, with net sales going into negative territory for the first time since the...

Isas had a turbulent 2004, with net sales going into negative territory for the first time since they were introduced in 1999, falling 42% from 2003's figures. According to the IMA's latest statistics, 2004 ended with investment funds under management showing a 3% increase from November and a 14% rise from December 2003. This is despite the fact December 2004 was a slow month, with total net sales down by a quarter on December 2003 and retail sales of £279m some 69% down on the previous year. Even though this is a fall from last year, December was the third month in a row in which net Is...